What’s the Big Deal About Employee Engagement?

August 8, 2012

So many organizations hire new employees, give them generous compensation packages ripe with incentives, and then expect them to work happily for years on end. Then they are shocked when a couple years (or months) later the same employees leave to take LESS lucrative jobs elsewhere. What gives?

What many organizations fail to account for is employee engagement. It turns out there is much more to making a job a great experience than compensation alone. And this isn’t just an employee problem, as Gallup Consulting recently estimated that in the U.S. workforce alone, lost productivity as a result of employee disengagement costs organizations more than $300 billion each year. According to the Bureau of Labor Statistics, that’s over $2,100 per employed worker.

So what can you do to increase the engagement of your workforce? One example is Accenture, which regularly asks employees to self-assess their engagement on six different levels to ensure best practices in talent management. The six areas are:

People… because the people employees work with and for are one of the single greatest determining factors in whether or not they stay engaged.

Work… because employees need to work in a good fit on interesting projects that deliver real value for real people.

Opportunities… because employees need the chance to learn, develop, and receive the guidance they need to navigate their career journey.

Work Environment… because employees need to spend their time in a safe and engaging workplace that doesn’t compete with success in the rest of life.

Company… because employees want to be associated with a winning culture, vision, and brand.

Rewards and Recognition… because employees should be able to share in the company’s financial performance.

If your employees are disengaged (or even if they aren’t), it might be a good idea to ask them to assess their experience based on these best practice areas. Where can your organization stand to improve?